Prime Capital Investment Advisors LLC Lowers Position in Abbott Laboratories $ABT

Prime Capital Investment Advisors LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 29.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 34,349 shares of the healthcare product maker’s stock after selling 14,278 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Abbott Laboratories were worth $4,672,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABT. Kelly Financial Services LLC bought a new position in shares of Abbott Laboratories in the 1st quarter worth about $216,000. Edge Financial Advisors LLC increased its stake in shares of Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock valued at $336,000 after purchasing an additional 81 shares in the last quarter. Avanza Fonder AB lifted its holdings in shares of Abbott Laboratories by 0.4% during the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after purchasing an additional 655 shares during the last quarter. Madrona Financial Services LLC boosted its position in shares of Abbott Laboratories by 9.7% in the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock worth $235,000 after purchasing an additional 152 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Abbott Laboratories by 12.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after buying an additional 73,780 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $133.63 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average price of $132.08 and a 200-day moving average price of $131.44. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The firm has a market capitalization of $232.58 billion, a PE ratio of 16.75, a P/E/G ratio of 2.55 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. As a group, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is 29.57%.

Analysts Set New Price Targets

Several equities research analysts have commented on ABT shares. Leerink Partners initiated coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a “market perform” rating and a $143.00 target price on the stock. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Evercore ISI raised their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Finally, Mizuho raised their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $145.39.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.